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Stock Market & Financial Investment News

News Breaks
May 2, 2013
15:50 EDTRIGIcahn sends letter to Transocean shareholders, urges special dividend
Carl Icahn sent a letter to Transocean shareholders continuing to advocate for a $4.00 per share special dividend. In his letter, Ichan says, "Transocean has at last acknowledged the magnitude of the cost cutting opportunity at the company: in the initial phase, at least $300M of annualized savings. However, the more important issue at this point how will the $300M in annualized savings impact shareholders? If additional capital is tied up in long dated low return capital projects, we do not believe shareholders will ever see the benefit. We continue to believe that even without the $300M annualized savings, a $4.00 dividend is entirely feasible, but obviously this $300M makes it even more so."
News For RIG From The Last 14 Days
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July 29, 2015
11:18 EDTRIGStocks with call strike movement; FCX RIG
Freeport McMoRan (FCX) January 14 call option implied volatility decreased 4% to 55, Transocean (RIG) January 18 call option implied volatility decreased 2% to 52 according to IVolatility.
July 27, 2015
06:20 EDTRIGU.S. oil firms preparing for extended job cuts, WSJ reports
U.S. energy companies intend to cut more jobs, sell more assets, and engage in more financial maneuvers to deal with the recent drop in U.S. crude-oil prices to below $50 a barrel, the Wall Street Journal reports. Companies have started to warn that more layoffs will come, particularly Halliburton (HAL) and Baker Hughes (BHI), who disclosed last week that they had cut 27,000 jobs between them, the report says. Job cuts for the industry are beginning to extend to engineers and scientists, the report adds. Publicly traded companies in oil industry include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Other publicly traded companies in the space include Baker Hughes (BHI), Diamond Offshore (DO), Halliburton (HAL), Nabors Industries (NBR), Noble Corp. (NE), Rowan Companies (RDC), Schlumberger (SLB), Transocean (RIG) and Weatherford (WFT). Reference Link

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